58-1-15 "Homeowner's insurance policy" defined--Notice of nonrenewal to policyholder req...
"Homeowner's insurance policy" defined--Notice of nonrenewal to policyholder
required--Timing of notice--Exception.
Notice of refusal to renew, as provided in § 58-1-14, does
not apply to a homeowner's insurance policy which shall for the purposes of § 58-1-14 mean a policy
normally written by the insurer as a standard homeowner's package policy or as a standard residential
renter's package policy or homeowner's multiple peril policy. However, notice of refusal to renew
a homeowner's insurance policy is not effective unless mailed or delivered by the insurer to the
named insured at least thirty days before the effective renewal date. A notice of nonrenewal is not
required if the policyholder is transferred to an insurer that is a member of the same insurance group
as the previous insurer and notice of such transfer is given in the form adopted by rule by the
Division of Insurance pursuant to chapter 1-26.
Source: SL 1986, ch 414, § 4; SL 2001, ch 264, § 2.